By Rachel Savage JOHANNESBURG (Reuters) – Malawi needs almost $1 billion in debt relief from its creditors by 2027, the International Monetary Fund said on Wednesday, as it battles severe medicine, fuel and fertiliser shortages due to chronic foreign currency shortages. The landlocked southern African country needs $887 million in debt relief from 2023 to …
Malawi needs almost $1 billion debt relief by 2027 – IMF Read More »
By Tiemoko Diallo BAMAKO (Reuters) – Mali’s military government said it has signed an agreement with Russia to build a gold refinery in the capital Bamako, one of a slew of deals between the two countries as Russia seeks to extend its regional influence. The accord, a non-binding memorandum of understanding, involves building a 200-tonnes-per-year …
Mali signs agreement with Russia to build gold refinery Read More »
NAIROBI (Reuters) – Kenya’s KCB Group, a top two commercial bank, recorded a 6% fall in profit before tax for the first nine months of this year to 40.6 billion shillings ($266.51 million), it said on Wednesday. KCB, which also operates in Uganda, Tanzania, Burundi, Rwanda, South Sudan and the Democratic Republic of the Congo, …
Kenyan lender KCB Group’s nine-month pretax profit falls 6% Read More »
(Reuters) – The global smartphone market returned to growth in October after more than two years of slump, helped by a recovery in the emerging markets, according to data from Counterpoint Research. The data showed that global monthly smartphone sell-through volumes grew 5%, making October the first month to record year-on-year growth since June 2021, …
Global smartphone market sees growth after over 2 years in October – Counterpoint Read More »
By Stephanie Kelly NEW YORK (Reuters) – Oil prices ended near flat on Tuesday after rallying for two sessions, with investors cautious ahead of Sunday’s scheduled OPEC+ meeting, when the producer group may discuss deepening supply cuts due to slowing global economic growth. Brent crude futures settled 13 cents higher at $82.45 a barrel. U.S. …
Oil edges lower on caution ahead of OPEC+ meeting Read More »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks dipped on Tuesday and gold touched a two-week high while minutes from the Federal Reserve’s most recent meeting showed the central bank is “in a position to proceed carefully.” All three major U.S. stock indexes ended slightly lower, with the tech-laden Nasdaq down the most ahead …
Wall Street ends lower, gold jumps as Fed minutes reveal cautious policy approach Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -The dollar index was on pace to stem the tide of its recent downturn on Tuesday after minutes from the Federal Reserve’s most recent policy meeting showed the U.S. central bank was likely to maintain a restrictive stance on interest rates for some time. Fed officials said inflation remained …
By Felix Onuah ABUJA (Reuters) – Nigerian and German companies on Tuesday signed two accords in Berlin that include a $500 million renewable energy pact and a gas export deal, further strengthening economic ties between the two nations, a presidential spokesperson said. Union Bank of Nigeria and Germany’s DWS Group signed a memorandum of understanding …
Nigeria and Germany sign $500 million renewable energy and gas deal Read More »
LONDON (Reuters) – Zambia’s debt restructuring has been a complex, three-year process, which suffered a serious setback on Monday when bilateral creditors, including China, effectively ordered it secure more debt relief from international funds that hold its sovereign bonds. Below is a condense timeline of key events : 2019-2020: Zambia faced challenges in repaying its …
LUANDA (Reuters) -Angola’s central bank increased its main interest rate from 17% to 18% on Tuesday, aiming to curb rising inflation which it hopes to get back into single digits in the medium term. Inflation climbed to 16.58% year-on-year in October from 15.01% in September. It had slowed significantly last year and over the first …
Angola central bank hikes rates as inflation continues to climb Read More »
